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  1. Home
  2. /Browse ZIP Codes
  3. /Texas
  4. /Waco, TX - 76708

Waco, TX—76708

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$229,000
2.3% YoY Growth
Household Income
$66,800
34.7% YoY Growth
Days on Market
50
48.0% Longer YoY
Home Price Forecast
0.0%
Median Rent
$1,650
4.5% YoY Growth
1-Bed Rent
$1,000
12.1% YoY Growth
2-Bed Rent
$1,180
0.8% YoY Growth
3-Bed Rent
$1,700
7.1% YoY Growth

Other Zip Codes in Waco, TX

76701767077679876711767047671076706
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Waco, TX

As of May '26, the median home price in Waco, TX is $229,000, with a year-over-year change of -2.3%. This indicates that home prices in Waco, TX are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$229,000-2.3%
Single Family $232,000-1.7%
Condos $140,000-2.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $105,000
    -7.9%
    2 Bed
    		$128,000-5.2%
    3 Bed
    		$232,000-1.7%
    4 Bed
    		$348,000-0.6%
    5 Bed $413,231-0.6%
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    % of Housing Stock

    Studio
    0.8%
    1 Bedroom
    11.4%
    2 Bedrooms
    24.3%
    3 Bedrooms
    47.6%
    4 Bedrooms
    13.8%
    5+ Bedrooms
    2.1%

    Rental Trends — Waco, TX

    As of July '25, Rentcast reports the average rent in Waco, TX is $1,620, with a year-over-year rent change of 4.5%. Per bedroom, the median rent as of July '25 in Waco, TX is 1-bedrooms: $976, 2-bedrooms: $1,230, 3-bedrooms: $1,810, 4-bedrooms: $2,040. The most common rental property sizes in Waco, TX are 3-bedroom and 1-bedroom, accounting for 33.5% and 32.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,650$1,620
    Studio Rent N/AN/A
    1 Bed Rent $1,000$976
    2 Bed Rent $1,180$1,230
    3 Bed Rent $1,700$1,810
    4 Bed Rent $2,050$2,040
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    % of Rental Stock

    Studio
    2.4%
    1 Bedroom
    32.1%
    2 Bedrooms
    26.6%
    3 Bedrooms
    33.5%
    4 Bedrooms
    5.3%
    5+ Bedrooms
    0.2%

    Property Listings — Waco, TX

    As of May '26, Realtor.com reports that the median days on market for a home in Waco, TX is 50. This is a increase of 48.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$295,000-1.0%
    Listing Count
    		26127.0%
    Listings as % of Homes1.1%27.0%
    Days on Market
    		5048.0%
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    Demographics — Waco, TX

    As of the latest ACS Survey released in 2023, Waco, TX has a population of 27,700, which has remained stable by 0.8% over the past 5 years. Waco, TX is a popular place for families, as children make up 26.7% of the population. The area has a poorly educated workforce, with 24.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		27,7000.8%
    % Under 18
    		26.7%-7.0%
    % Seniors
    		14.4%17.1%
    % WFH
    		8.7%117.5%
    % w/ College Degree
    		24.7%16.5%
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    As of the latest ACS Survey released in 2023, Waco, TX is a predominantly white area, with 50.0% of the population identifying as white. The white population has grown by 8.5% in the last 5 years. The second most common race or ethnicity in Waco, TX is hispanic, making up 31.3% of the population. Foreign-born residents account for 11.0% of the population in Waco, TX, and this percentage has decreased by 6.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		50.0%8.5%
    % Black
    		13.6%-2.9%
    % Hispanic
    		31.3%-13.1%
    % Asian
    		2.2%10.0%
    % Foreign Born
    		11.0%-6.8%
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    Mortgage and Risk — Waco, TX

    According to HUD data as of 2023, there were 539 mortgage originations in Waco, TX, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Waco, TX. Investor activity is low, as 9.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		539
    % Conventional Loans
    		62.0%
    % Government Loans
    		38.0%
    % Investor Loans
    		9.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Waco, TX

    As of 2024, the percent of homes in Waco, TX under the Section 8 program is 14.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Waco, TX, because HUD payments exceed market rent, while 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		580
    Total Units Section 8
    		505
    % Rentals under Section 8
    		14.6%
    % Occupied Section 8
    		87.1%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$110$1,000$1,110
    2 Bedroom$200$1,180$1,380
    3 Bedroom$80$1,700$1,780
    4 Bedroom-$220$2,050$1,830

    Affordability — Waco, TX

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.5
    Median Home Price$229,000
    Median Household Income$66,800

    Waco, TX — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Waco, TX

    76710

    Waco, TX

    76707

    Waco, TX

    76704

    Waco, TX

    76701

    Woodway, TX

    76712

    Frequently Asked Questions